Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting Information [Line Items]

Schedule of Restructuring and Related Costs

Restructuring related costs across all businesses in 2020 were recorded as follows:

	Three Months Ended September 30, 2020
(in thousands)	Kaplan International		Higher Education		Supplemental Education		Kaplan Corporate		Total Education		Other Businesses		Total
Severance (1)	$	959	$	—	$	913	$	—	$	1,872	$	—	$	1,872
Impairment of other long-lived assets:
Lease right-of-use assets	—		—		1,710		—		1,710		—		1,710
Property, plant and equipment	—		—		206		—		206		—		206
Non-operating pension and postretirement benefit income, net	—		802		6,287		694		7,783		—		7,783
Total Restructuring Related Costs	$	959	$	802	$	9,116	$	694	$	11,571	$	—	$	11,571
	Nine Months Ended September 30, 2020
(in thousands)	Kaplan International		Higher Education		Supplemental Education		Kaplan Corporate		Total Education		Other Businesses		Total
Severance	$	2,183	$	—	$	913	$	—	$	3,096	$	—	$	3,096
Facility related costs:
Operating lease cost	2,418		3,442		3,296		—		9,156		—		9,156
Accelerated depreciation of property, plant and equipment	1,472		95		1,801		—		3,368		—		3,368
Total Restructuring Costs Included in Segment Income (Loss) from Operations (1)	$	6,073	$	3,537	$	6,010	$	—	$	15,620	$	—	$	15,620
Impairment of other long-lived assets:
Lease right-of-use assets	3,790		2,062		3,908		—		9,760		1,405		11,165
Property, plant and equipment	1,199		174		803		—		2,176		86		2,262
Non-operating pension and postretirement benefit income, net	1,100		2,233		8,582		883		12,798		999		13,797
Total Restructuring Related Costs	$	12,162	$	8,006	$	19,303	$	883	$	40,354	$	2,490	$	42,844

____________

(1)    These amounts are included in the segments’ Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets.

Summary of Segment Reporting Information, by Operating Segment

The following tables summarize the financial information related to each of the Company’s business segments:

	Three months ended				Nine months ended
	September 30				September 30
(in thousands)	2021		2020		2021		2020
Operating Revenues
Education	$	335,999	$	302,467	$	1,005,300	$	992,020
Television broadcasting	126,498		133,828		360,089		350,038
Manufacturing	99,766		106,690		356,849		303,387
Healthcare	55,445		51,426		160,184		146,601
Automotive	84,702		76,790		242,702		182,288
Other businesses	107,539		46,306		199,477		128,953
Corporate office	—		—		—		—
Intersegment elimination	(513)		(525)		(1,558)		(1,177)
	$	809,436	$	716,982	$	2,323,043	$	2,102,110
Income (Loss) from Operations before Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
Education	$	13,869	$	9,584	$	57,238	$	45,022
Television broadcasting	41,911		54,105		113,212		116,229
Manufacturing	(6,942)		11,838		27,990		30,982
Healthcare	6,016		8,965		23,312		23,569
Automotive	4,506		1,986		8,815		69
Other businesses	(19,752)		(17,429)		(57,533)		(54,864)
Corporate office	(13,481)		(12,739)		(42,831)		(34,331)
	$	26,127	$	56,310	$	130,203	$	126,676
Amortization of Intangible Assets and Impairment of Goodwill and Other Long-Lived Assets
Education	$	3,955	$	6,251	$	15,240	$	24,743
Television broadcasting	1,361		1,360		4,081		4,081
Manufacturing	32,541		6,987		46,138		21,112
Healthcare	756		823		2,317		3,440
Automotive	—		—		—		6,698
Other businesses	4,121		645		7,599		12,396
Corporate office	—		—		—		—
	$	42,734	$	16,066	$	75,375	$	72,470
Income (Loss) from Operations
Education	$	9,914	$	3,333	$	41,998	$	20,279
Television broadcasting	40,550		52,745		109,131		112,148
Manufacturing	(39,483)		4,851		(18,148)		9,870
Healthcare	5,260		8,142		20,995		20,129
Automotive	4,506		1,986		8,815		(6,629)
Other businesses	(23,873)		(18,074)		(65,132)		(67,260)
Corporate office	(13,481)		(12,739)		(42,831)		(34,331)
	$	(16,607)	$	40,244	$	54,828	$	54,206
Equity in Earnings of Affiliates, Net	12,964		4,092		28,168		3,727
Interest Expense, Net	(9,422)		(6,357)		(22,457)		(19,307)
Non-Operating Pension and Postretirement Benefit Income, Net	27,561		10,489		81,564		41,028
Gain (Loss) on Marketable Equity Securities, Net	14,069		59,364		176,981		(1,139)
Other Income, Net	5,218		222		27,660		11,010
Income Before Income Taxes	$	33,783	$	108,054	$	346,744	$	89,525
Depreciation of Property, Plant and Equipment
Education	$	8,217	$	6,822	$	23,479	$	24,475
Television broadcasting	3,462		3,399		10,478		10,188
Manufacturing	2,402		2,557		7,346		7,610
Healthcare	322		318		970		1,351
Automotive	535		619		1,555		1,735
Other businesses	3,649		4,589		7,578		12,211
Corporate office	154		177		480		528
	$	18,741	$	18,481	$	51,886	$	58,098

	Three months ended				Nine months ended
	September 30				September 30
(in thousands)	2021		2020		2021		2020
Pension Service Cost
Education	$	2,339	$	2,350	$	7,020	$	7,527
Television broadcasting	901		817		2,692		2,449
Manufacturing	321		318		962		1,107
Healthcare	141		136		421		407
Automotive	—		—		—		—
Other businesses	458		410		1,314		1,276
Corporate office	1,615		1,426		4,845		4,278
	$	5,775	$	5,457	$	17,254	$	17,044

Asset information for the Company’s business segments is as follows:

	As of
(in thousands)	September 30, 2021		December 31, 2020
Identifiable Assets
Education	$	1,975,302	$	1,975,104
Television broadcasting	441,098		453,988
Manufacturing	486,241		551,611
Healthcare	163,286		160,654
Automotive	160,025		151,789
Other businesses	660,385		365,744
Corporate office	84,196		348,045
	$	3,970,533	$	4,006,935
Investments in Marketable Equity Securities	764,831		573,102
Investments in Affiliates	171,249		155,777
Prepaid Pension Cost	1,772,859		1,708,305
Total Assets	$	6,679,472	$	6,444,119

Education [Member]

Segment Reporting Information [Line Items]

Summary of Segment Reporting Information, by Operating Segment

The Company’s education division comprises the following operating segments:

	Three Months Ended				Nine months ended
	September 30				September 30
(in thousands)	2021		2020		2021		2020
Operating Revenues
Kaplan international	$	168,143	$	123,768	$	521,314	$	488,096
Higher education	85,518		83,841		239,944		243,831
Supplemental education	80,489		92,568		238,055		253,641
Kaplan corporate and other	3,761		3,194		10,739		9,438
Intersegment elimination	(1,912)		(904)		(4,752)		(2,986)
	$	335,999	$	302,467	$	1,005,300	$	992,020
Income (Loss) From Operations before Amortization of Intangible Assets and Impairment of Long-Lived Assets
Kaplan international	$	(999)	$	(13,759)	$	23,285	$	21,256
Higher education	9,525		6,853		18,152		21,883
Supplemental education	11,769		19,069		33,079		12,849
Kaplan corporate and other	(6,426)		(2,579)		(17,375)		(10,971)
Intersegment elimination	—		—		97		5
	$	13,869	$	9,584	$	57,238	$	45,022
Amortization of Intangible Assets	$	3,888	$	4,335	$	11,967	$	12,807
Impairment of Long-Lived Assets	$	67	$	1,916	$	3,273	$	11,936
Income (Loss) from Operations
Kaplan international	$	(999)	$	(13,759)	$	23,285	$	21,256
Higher education	9,525		6,853		18,152		21,883
Supplemental education	11,769		19,069		33,079		12,849
Kaplan corporate and other	(10,381)		(8,830)		(32,615)		(35,714)
Intersegment elimination	—		—		97		5
	$	9,914	$	3,333	$	41,998	$	20,279
Depreciation of Property, Plant and Equipment
Kaplan international	$	5,516	$	4,585	$	15,603	$	14,782
Higher education	923		682		2,648		2,237
Supplemental education	1,658		1,454		4,904		7,165
Kaplan corporate and other	120		101		324		291
	$	8,217	$	6,822	$	23,479	$	24,475
Pension Service Cost
Kaplan international	$	73	$	102	$	221	$	334
Higher education	1,109		973		3,329		3,113
Supplemental education	954		986		2,861		3,155
Kaplan corporate and other	203		289		609		925
	$	2,339	$	2,350	$	7,020	$	7,527

Asset information for the Company’s education division is as follows:

	As of
(in thousands)	September 30, 2021		December 31, 2020
Identifiable Assets
Kaplan international	$	1,445,125	$	1,455,722
Higher education	207,834		187,123
Supplemental education	263,169		274,687
Kaplan corporate and other	59,174		57,572
	$	1,975,302	$	1,975,104